Metal

Exports of Chinese rare earth metals to jump ahead of new regulations

China will also establish a information system to track circulation of rare earth products

Metals, stocks shine amid economic optimism due to slower inflation

Gold climbed more than 1% to a record $2,449.89 an ounce, while three-month copper on the London Metal Exchange surged as much as 4.1% to a historic high of $11,104.50

NALCO posts record cast metal production at 463,000 metric tonne in FY24

State-owned NALCO has made a record production of cast metal at 4,63,428 metric tonne during the financial year 2023-24. The company has also made its highest-ever metal sales of 4,70,108 metric tonne during the fiscal ended March 31, it said in a statement on Tuesday. The excavation of bauxite reached a record high of 7,600,230 metric tonne during the financial year 2023-24, NALCO said. According to the company, it has surpassed all previous records since its inception. NALCO CMD Sridhar Patra said, "Major milestones have been achieved by the company by way of backward integration and securitisation of raw materials and energy in the past four years on account of the dedication and hard work of the employees and cooperation received from various stakeholders." The company's alumina refinery has produced 21,24,000 metric tonne of alumina hydrate, while the captive power plant generated a gross 7,193.62 million units of power during the year. In FY 23-24, the entity also developed

Metal prices unlikely to improve due to global macroeconomic state: ICRA

Global prices of metals, including aluminium, are unlikely to improve considerably in the near term due to uncertainties in the global macroeconomic environment, Icra said on Wednesday. Besides, energy costs are likely to increase in the second half of the current fiscal, as the domestic e-auction premia on coal is projected to be significantly higher. "International prices of three non-ferrous metals, viz., aluminium, copper and zinc, have been range-bound and fell by 2-3 per cent in the last two quarters. Such prices are unlikely to improve substantially in the near term owing to uncertainties in the global macroeconomic environment," Icra said in a statement. The increase in coal costs along with weak global sentiments impacting metal prices remain near-term concerns, Jayanta Roy, Senior Vice President and Group Head, Corporate Sector Ratings, Icra, said. With an improvement in metal supply, primarily in China, the global metal balance is likely to remain in surplus in 2024 as .

Mined metal production of Hindustan Zinc rises 7% in Oct-Dec quarter

Vedanta group firm Hindustan Zinc on Tuesday said its mined metal output has registered a rise of 7 per cent to 2,72,000 tonnes in the December quarter on the back of improved mined metal grades and higher ore production. The refined metal production in the third quarter increased 1 per cent to 2,59,000 tonnes over 2,57,000 tonnes in the year-ago period. "Refined lead production was at 56,000 tonnes, up 21 per cent YoY on account of pyro operations on lead mode to maximise silver production," the company said in a statement. The saleable silver production was 6.3 million ounce, up 22 per cent YoY in line with lead metal output. Wind power generation in the third quarter of the current fiscal was 55 Million Units (MU), up 11 per cent from the last fiscal. Hindustan Zinc -- headquartered in Udaipur, Rajasthan -- is an integrated producer of zinc, lead, and silver.

Indian Metals and Ferro Alloys Q2 result: Profit rises 5-fold to Rs 89 cr

Indian Metal & Ferroy Alloys (IMFA) Ltd on Thursday posted over five-fold jump in consolidated net profit to Rs 89.34 crore in the September quarter, aided by reduced expenses. It had clocked Rs 16.40 crore net profit during the year-ago period, the company said in regulatory filing. The company's total income also increased to Rs 704.25 crore over Rs 676.88 crore in the year-ago quarter. IMFA's expenses trimmed to Rs 581.10 crore from Rs 647.98 crore last year. The board of the company also approved an interim dividend of Rs 7.50 per equity share of Rs 10 each for the financial year ending March 31, 2024. It also approved the merger of Utkal Coal Ltd into Indian Metals & Ferro Alloys Ltd, as well as their respective shareholders and creditors. The amalgamation will be implemented upon receipt of requisite approvals of statutory and regulatory authorities, including the approval of the jurisdictional National Company Law Tribunal, shareholders and creditors.

Industrial metals to remain vulnerable to more softness near-term: Goldman

The copper market could face near-term pressure from the likelihood that Chinese imports of the metal could be restrained, the bank said

Hindustan Zinc's mined metal output drops to 252,000 tonnes in Jul-Sept qtr

Vedanta group firm Hindustan Zinc Ltd on Monday said its production of mined metal dropped marginally by one per cent to 2,52,000 tonnes in the second quarter of the ongoing fiscal. Hindustan Zinc Ltd's (HZL) mined metal production was 2,55,000 tonnes in the second quarter of the previous fiscal. "Mined metal production in the second quarter at 252kt, marginally down YoY and two per cent down sequentially mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades," HZL said in a filing to BSE. The company's refined metal output in the second quarter at 2,41,000 tonnes, dropped by two per cent over the corresponding quarter of previous fiscal. "Integrated zinc production at 185kt, down 2 per cent as compared to 2QFY23 and down 12 per cent sequentially. "Refined lead production at 57kt, flat as compared to 2QFY23 and up 12 per cent sequentially on account of pyro plant operations on Lead mode during this quarter," the filing ...

Amid global worries, domestic demand some cushion for metal companies

Sequentially, margins are expected to contract in the first quarter (Q1) of 2023-24 financial year (FY24) versus Q4 FY23

Prices of Chinese gallium steady after rush to beat export curbs eases

Inquiries from foreign buyers have dissipated, researcher Shanghai Metals Market said, citing market participants. Risks rising as shipments may not able to leave before curbs kick in next month

Xi Jinping's metal curbs risk backfiring as G-7 seeks alternative to China

The new export licensing system highlighted China's dominant position in global production of gallium and germanium, which are used to make chips, electric cars and telecommunications equipment

Top headlines: I-T lens on reporting entities, rupee to face headwinds

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Hindalco: Adjusting to the new environment; metal volumes may stagnate

Capex cut, focus on profitability, healthy balance sheet should help overcome medium-term hurdles

Sensex, Nifty end lower on selloff in metal, banking and financial

After jumping nearly 560 points during the session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52.

Instagram rolls out parental supervision tools, 'family centre' in India

Image-sharing platform says the intention is to strike balance between autonomy and safety for young people

Base metal companies line up Rs 1.14 trillion capex as demand rises

Host of sectors pushing up need for metals; capital outlay significant by firms, say experts

Fallout of Russia-Ukraine war: Metal users, producers feel price pinch

Price hikes in the offing, say metal producers; may have to pass on costs, say user industries

Hindustan Zinc integrated metal production rises 11% in third quarter

The company's integrated metal production stood at 235,000 tonnes in the year-ago period

Markets factoring good show by India Inc in September quarter: Atul Bhole

Among sectors, the BFSI sector can throw up a positive surprise for the investors in terms of performance and the ensuing guidance

Rebound short-lived? Recovery in commodity prices likely to be a blip

Experts see the real recovery may prove evasive if virus continues to spread